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broomrider broomrider is offline
 
Joined: Sep 2008
Posts: 5,063
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broomrider
 
broomrider's Avatar
 
Joined: Sep 2008
Posts: 5,063
Senior Member
working on SS
Old 12-29-2019, 11:19 AM
 
Clip to ScrapBook #2

First of all, congratulation and welcome to the land of content people!

Now for some suggestions. Check the social security web site for the earned income limitations that affect SS benefits. Income above a certain limit (which changes yearly) are taxed at 50% to 33% plus regular income tax depending on your age. If you are at full social security retirement age, you may be safe, but best to check.

Some friends got slammed with large unexpected tax bills when they were too enthusiastic about working part time while collecting social security.

https://www.ssa.gov/pubs/EN-05-10069.pdf

Remember that you have a six month window to sign up for medicare--3 months before and three months after your birth month. Do NOT let your insurance lapse until medicare kicks in or that will increase your premiums according to what I was told.

If you haven't set up a face to face with a social security representative, you may find it very information and useful to do so. It saved me much confusion and fumbling with websites. Do make an appointment as the wait for walk-ins at the SS office can be as bad as the DMV.
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